The smart railways market size is estimated to be USD 10.50 billion in
2016 and is projected to reach USD 20.58 billion by 2021, at a CAGR of
14.4% from 2016 to 2021, due to the need of smart cities for better
infrastructure, services, fast operational activities in public
services, and transportation services.

Government bodies are striving for the betterment of the transport
infrastructure systems as it replicates the development of the economy.
The restraints of the smart railways market include operational
efficiency & increasing congestion, high initial cost of deployment &
capacity, and lack of ICT infrastructure & interoperability.

The rail analytics system is expected to grow at the highest CAGR during
the forecast period due to the rise of demographic growth and
hyper-urbanization. In addition to that, the cloud-based services,
analytics, and mobile internet technologies demand are increasing due to
their efficient IT management and reliable security environment.

With regards to the geographic analysis, Europe is likely to benefit
from its technological advancements, large number of smart devices,
strong government regulations, and followed by high usage of big data
analytics, predictive and sensor analytics across all the railways
industry.

Asia-Pacific (APAC) is expected to lead the smart railways market by
region between 2016 and 2021. The growth can be attributed to the global
competition, increasing penetration of smart devices, connected
machines, and increasing investment in smart cities.

In the process of determining and verifying the market size for several
segments and subsegments gathered through secondary research, extensive
primary interviews were conducted with key industry personnel.